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MUMBAI – Spotify has removed Indian record label Zee Music Company’s catalog after negotiations for a renewal of their licensing agreement fell through, Billboard has learned. As a result, the No.1 track on Spotify in India over the past two weeks, “Apna Bana Le” from the soundtrack to the 2022 Hindi film Bhediya, is no longer available on the platform.
“Spotify and Zee Music have been unable to reach a licensing agreement,” Spotify says in a statement sent to Billboard. “Throughout these negotiations, Spotify has tried to find creative ways to strike a deal with Zee Music and will continue our good faith negotiations in hopes of finding a mutually agreeable solution soon.”
Anurag Bedi, the chief business officer at Zee Entertainment Enterprises, declined to comment.
Apart from Spotify, Zee Music Company is also absent from Gaana, which it disappeared from in 2022 only a few months before the Indian audio-streaming platform became a subscription-only service.
On March 14, the last day its releases could be streamed on Spotify, Zee Music had over two dozen tracks on Spotify’s Daily Top 200 Songs chart for India. These included long-running Bollywood hits such as “Maiyya Mainu” from Jersey (2022), the title tracks from Kalank (2019) and Pal Pal Dil Ke Paas (2019), “Makhna” from Drive (2019), “Namo Namo” from Kedarnath (2018) and “Zaalima” from Raees (2017).
The label’s catalog also includes soundtracks to films distributed by sister company Zee Studios, such as the 2018 rom-com Veere Di Wedding and the 2019 hip-hop-centric Gully Boy.
Zee Music Company, which is part of the Zee Entertainment Enterprises media conglomerate, is one of India’s largest domestic record labels. Its YouTube subscriber base of 93.6 million makes it the second most-subscribed-to Indian music channel after global leader T-Series, which boasts 239 million subscribers.
In the last 25 years, the music industry has evolved in huge leaps: the arrival of Napster in 1999, the launch of the iTunes music store in 2003 and YouTube’s debut in 2005 are notable, epoch-defining events. But progress often comes in a series of small steps forward.
One such small step is Spotify’s Loud & Clear, an annual report that provides some transparency into the amounts of royalties the company pays each year. The third Loud & Clear report was released March 8 to coincide with Stream On, Spotify’s live-streamed media event where a parade of executives introduced new product features and discussed the future of the world’s largest music subscription service.
Loud & Clear is helpful because it puts artist royalties in context. Any artist knows how much they earned on a streaming platform. But Loud & Clear will tell an artist how they stack up to others. It’s one thing to make $100,000 in annual royalties but another thing to know how many other artists are also making at least $100,000.
“I think it’s very important for ecosystems to have an understanding of the shape and size of how results are going for different participants so that people can understand where they are, where they stand and how the ecosystem is evolving,” says Charlie Hellman, Spotify vp, global head of music product.
And how well is the ecosystem evolving? Spotify wants to give “a million creators the opportunity” to making a living from their art — which could include both musicians and podcasters. That goal goes back to a statement by CEO Daniel Ek at its 2017 Investor Day. At the time, Spotify counted 22,000 artists as “top-tier” earners (it didn’t specify exactly how much they earned, however). Today, thanks to Loud & Clear, we can see a million creators are probably not making a living from their art. But as Spotify, and streaming in general, has grown in popularity, the number of artists making a sustainable amount — define that as you may — is slowly increasing.
There are 27,000 established artists defined as being in Spotify’s top 50,000 artists three straight years but outside of the top 500. In 2022, they earned an average of $224,000 from Spotify and averaged 1.45 million monthly listeners in 2022. So, they’re not superstars but they’re far from hobbyists. They’re also likely signed to record labels and receive only a fraction of those royalties.
In 2022, there were nearly 3,000 “catalog-heavy” artists that earned more than $100,000 on Spotify. Those artists earned over 80% of their streams from tracks five years old or older. Given that Spotify estimates other streaming sources account for 75% of an artists’ revenue, those artists probably earn around $400,000 a year in streaming royalties.
If streaming is going to provide a living for many musicians, the economics need to work for the independent musicians that make up a large portion of the working class. In 2022, a quarter of the 57,000 artists who earned $10,000 or more in royalties from Spotify in 2022 are self-distributed through the likes of DistroKid, TuneCore and CD Baby. That works out to nearly 15,000 artists, a 200% increase since 2017. That’s a far cry from one million. But as streaming platforms continue to grow, the number of self-distributed artists earning that amount will grow, too.
Increasingly, streaming platforms will facilitate other parts of artists’ careers, such as ticket sales and merchandise sales. Spotify lists some merchandise sales through third-party providers such as Shoptify and Merchbar. And although it hasn’t included merch sales in Loud & Clear, Hellman says, “I can imagine in future years doing more data share about that in particular. We didn’t do that this year, but it is a big strategic focus for us.”
There are 29 debuts on the March 18-dated Billboard Global 200 and 25 of those come from Morgan Wallen. The hit parade doesn’t stop there, with Wallen breaking ground among country – and all – artists on Billboard’s flagship global chart.
On top of Wallen’s 25 debuts, he adds five re-entries. More, four of his tracks hold over from last week’s chart. All of that adds up to 34 placements on this week’s Global 200, more than any artist has ever simultaneously charted in the list’s two-and-a-half-year lifespan. Taylor Swift previously held the record, with 31 songs on the Nov. 27, 2021, list in the wake of the release of her country-pop rerecording Red (Taylor’s Version).
Wallen’s total streaming figure and record-breaking hold on the chart are unqualified triumphs for any artist and especially so for country acts. Since launching in September 2020, the Global 200 has had 125 instances of an artist charting 10 or more songs at once, but only three of those belong to a current core country artist – in each case Wallen. He landed 19 songs on the Jan. 23, 2021-dated tally and 10 the following week. His new album, the Billboard 200-topping One Thing at a Time, sparks his latest chart haul, just as the arrival of his prior LP, Dangerous: The Double Album, yielded his big weeks on the Global 200 two years ago.
To find a full-on country act other than Wallen with a noteworthy robust one-week sum, we arrive at Luke Combs, who totaled six songs on the Nov. 7, 2020-dated Global 200. There have been 591 counts of an artist with six or more titles on the Global 200, spread among 65 distinct acts, but just 11 by two artists – 10 by Wallen and one by Combs – among country artists.
Country music has long struggled to find crossover success internationally. The genre is native to the United States, headquartered in Nashville and driven in large part by U.S.-based country radio, while often honoring authenticity above all else. That means that hometown (and in the case of these charts, home-country) pride goes a long way and could make exporting to Asia, Europe, South America and beyond difficult.
Wallen’s own chart entries perhaps prove that point. His song titles alone are specifically American, referencing Ford trucks (“F150-50”), Tennessee (“Tennessee Numbers” and “Tennessee Fan”) and the particulars of a certain baseball team’s near-championship run from 25 years ago (“’98 Braves”). Those songs, and most others from his latest album, storm the Global 200 powered by domestic streams but miss out on the Billboard Global Excl. U.S. chart.
Of Wallen’s 34 Global 200 entries, just one appears on Global Excl. U.S., where “Last Night” debuts at No. 103. It’s his first song to ever hit that tally, and though it’s a debut worth celebrating, it’s dwarfed by the track’s No. 5 rank on this week’s Global 200 (and No. 1 status on the U.S.-based Billboard Hot 100, where Wallen achieves his first leader). Further, it’s just the second song by a country act (excluding Swift), to appear on Global Excl. U.S.. The other was Combs’ “Forever After All,” which hit No. 105 for one week before falling off, while peaking at No. 4 on the Global 200 in the first of 38 weeks on the chart.
Among songs on both of this week’s global charts, the average streaming breakdown is 25% domestic and 75% international. Wallen’s “Last Night” is all the way at one end of that spectrum, with 84% U.S., well more than three times the average and distinctly separated from even the next highest-U.S. share, Nicki Minaj’s “Red Ruby Da Sleeze,” with 65%. One Thing at a Time’s 36 songs go even further, averaging out to 88%. Hip-hop has its own noted difficulty spreading outside the U.S., making Wallen’s more extreme lack of international streaming even more stark.
Wallen’s drastically stateside lean falls in line with the near-total lack of country consumption outside the U.S., but there are small caveats. “Last Night” is on two of Billboard’s Hits of the World charts, at No. 6 on Australia Songs and No. 10 on New Zealand Songs. Oceania has historically been a friendly non-U.S. market to country acts, even supplementing Morgan’s top 10 appearance with Zach Bryan’s “Something in the Orange” at No. 23 on the former chart. Next week, Wallen will play two arena shows each in Sydney and Melbourne alongside ERNEST, Hardy, and Bailey Zimmerman, before returning to North America for a supersized stadium tour.
Like Wallen, most country acts don’t play many concerts outside of North America. Australia and London have been welcoming, but barring major pop crossover stars like Swift or Shania Twain, genre artists remain focused on honing their U.S. fan bases. As the premier country superstar of the streaming era – a democratized and globalized evolution of a previously segmented music industry – Wallen’s ballooned presence on Billboard’s global charts could be the foot in the door for Bryan, Combs, Zimmerman, and others to test the boundaries of international music consumption.
Morgan Wallen’s new album, One Thing at a Time, didn’t need 36 songs to reach No. 1 on the Billboard 200 chart (dated March 18)— but the sprawling tracklist certainly didn’t hurt. The country singer’s third studio album notched 501,000 album equivalent units in its first week of release, according to Luminate, the biggest week of 2023 and one of the largest debuts in recent months.
One Thing at a Time undoubtedly benefited from its stats-padding length, but it still would have dominated the Billboard 200 had Wallen and his label, Big Loud Records, opted for an average length. With the bottom 18 tracks accounting for 36% of the album’s total on-demand streams, if One Thing were a single-CD, 18-track release, Billboard estimates it would have moved about 360,000 units last week — putting it well ahead of the No. 2 album, SOS by SZA. The 10 most popular tracks amounted to 41.8% of the album’s streams, with the track “Last Night” alone accounting for nearly 9% of the 36 tracks’ aggregated streams.
In fact, an 18-track One Thing at a Time would have bested most recent No. 1 albums in their debut weeks, including Lil Baby’s It’s Only Me (216,000 units), SOS (318,000 units), Metro Boomin’s Heroes & Villains (185,000 units) and Tomorrow X Together’s The Name Chapter: TEMPTATION (161,000 units). (That’s assuming One Thing at a Time would have sold the same number of CDs and digital albums with half as many songs.) Only two recent albums, Her Loss by Drake and 21 Savage (404,000 units) and Taylor Swift’s Midnights (1.58 million units), had better debut weeks than the hypothetical, 18-track One Thing at a Time.
One Thing at a Time is part of a curious paradox in current recorded music, as the widespread adoption of streaming services has caused artists to release single tracks more often while releasing increasingly lengthier albums, too. While the album is waning in popularity, it remains a vital artistic statement and commercial event.
The trend of longer albums runs counter to the experimentations of the early days of digital music. When Napster arrived in the late ’90s, many people believed file-sharing marked the death of the album format. In the ’00s, as consumers increasingly purchased individual tracks at online stores like Apple’s iTunes, labels experimented with the new paradigm. In 2005, Warner Music Group and Elektra Records founder Jac Holzman launched a digital-only label, Cordless Music, that released music exclusively in “clusters” of three or more songs instead of albums or singles. In 2010, country star Blake Shelton released two six-song EPs — called “six paks” — rather than a single 10- or 12-track album.
Today, streaming dominates music consumption and impacts how artists and labels package music. Album sales are lower than ever, but album lengths have never been longer. Because fans can stream an unlimited amount of music for a fixed price, artists can add songs knowing that a longer album equals more streams. And because streams tend to account for far more of an album’s chart position than downloads and purchases, artists have an incentive to keep people listening.
The result has been “track creep,” a consistently rising number of songs on popular albums. In 2022, the top 10 albums on the year-end Billboard 200 chart averaged 19.1 tracks and 69.9 minutes. The top album, Bad Bunny’s Un Verano Sin Ti, has 23 tracks and runs 81 minutes. Un Verano Sin Ti is a product of the streaming age: Physical album sales account for just 1.1% of its album equivalent unit sales compared to 97.5% for streaming. Track creep is made easier considering that many albums, such as SOS and Drake’s 21-track Certified Lover Boy, don’t have physical versions.
Changes in how albums are counted for the Billboard 200 can probably help explain some of the track creep: In 2014, the year Billboard began incorporating streams into the Billboard 200 chart, the top 10 albums averaged 13.2 tracks and 51.9 minutes, meaning album lengths have increased by about six tracks and 18 minutes in the last eight years. (Here, Billboard counts only studio albums and excludes soundtracks and Broadway cast recordings, which are filled with score and instrumental tracks.)
In 1992, when CD sales began to dominate recorded music revenues, the top 10 albums averaged 11.9 tracks and 51.1 minutes. Garth Brooks had two of the four 10-track albums in the top 10 — Ropin’ the Wind and No Fences — and the longest, Totally Krossed Out by hip-hop duo Kriss Kross, had just 15 tracks. Albums — particularly in the country genre — often topped out at ten tracks, a limit set by record labels for paying mechanical royalties to music publishers.
In 1977, when the vinyl LP ruled the industry, the top 10 albums averaged 10.3 tracks and 45.1 minutes, and half of them had fewer than 10 tracks. The longest, Stevie Wonder’s double album, Songs in the Key of Life, had fewer tracks — 17 — than half of 2022’s top 10 albums. The top album of 1977, Fleetwood Mac’s Rumours, ran only 39 minutes — a full half-hour shorter than the average length of 2022’s top 10 albums. (In the 1977 top 10, Billboard included the soundtrack to A Star Is Born, which had only 11 tracks. That’s compared to 32 tracks for the Frozen soundtrack, the top album of 2014.)
One Thing at a Time might not need 36 tracks to top the Billboard 200, but having more songs means the album gets more streams and generates greater royalties. The least-popular 18 songs amassed 170.3 million on-demand streams in the album’s debut week. If those 18 tracks were released as a separate album — similar to the way Guns N’ Roses released Use Your Illusion volumes 1 and 2 simultaneously in 1991 — it would have been the No. 2 album of the week. Additional tracks provide diminishing returns but can contribute meaningfully to a successful record. Wallen’s previous album, the 32-track Dangerous: The Double Album, has received about 22% of its total track consumption — streams plus downloads — from its less-popular half. For a label that invests heavily in marketing and promoting an album, track creep can improve the return on each release.
Something the One Thing album has that single tracks and EPs lack is the oomph surrounding their marketing and promotion. In the wake of Napster, people may have underestimated the album’s ability to be an event unto itself. Single tracks get the attention of both fans and streaming services’ algorithms, but neither has the promotional impact of releasing a full album. As long as a label is driving awareness to a new release, why not give fans a few more songs?
Plus, artists don’t release albums as frequently as they used to. In the late ‘70s, artists often put out an album every year. Today, an artist will take two or three years — and often longer — between albums. Putting out longer albums could help labels make up for these widening gaps, with the caveat that only superstar releases tend to merit the kind of sprawling length seen in the form of recent releases by Wallen, Drake and others.
This kind of full-court press also serves to prolong — and boost — the success of individual tracks that would fade more quickly without an album attached. Eight of the 36 tracks on One Thing at a Time were released prior to the album’s street date and putting up strong numbers on their own. Still, their streams increased 89% the week of the album’s release. Four of the 8 tracks ended up in the Billboard Hot 100. In its sixth week on the Hot 100, Wallen’s single “Last Night” shot from No. 5 to No. 1 after a 53.5% jump in streams. Three other previously released tracks — “One Thing at a Time,” “You Proof” and “Thought You Should Know” — broke into the top 10 of the Hot 100.
Lady Gaga originally released “Bloody Mary” way back in 2011, but it only cracked the Hot 100 for the first time this January. The revival was due in part to a sped-up remix that careened around TikTok, soundtracking videos of users pairing up the track with an eccentric dance sequence from Wednesday, Netflix’s hit Addams Family update.
The surprise success of “Bloody Mary” in altered form presented Matt Kelly, operations manager and on-air personality for WVAQ in Morgantown, West Virginia, with a dilemma. “What version do we play?” he asks.
“The original is 100 beats per minute — so slow, relative to the new version that people are more familiar with,” he explains. “The sped-up is 130 bpm, but I hated that it sounded like Alvin and the Chipmunks.”
So Kelly split the difference by making his own 120-bpm edit to play on the air. “It appeases the ear like it’s the sped-up version,” he says, “but I kept the pitch correction — so it sounds like Gaga, not Alvin.”
Homemade remixes, often sped-up or slowed-down, have been a hallmark of the TikTok era. In recent months, they’ve helped rejuvenate years-old songs from Lady Gaga and Miguel and driven swarms of listeners to newer releases from Lizzy McAlpine and Raye. In some ways, the music industry has adapted — it’s become common to see artists release official tempo-shifted versions of songs that have started to bubble back up, for example. Streaming platforms, including Spotify and Apple Music, have playlists dedicated to these releases; SiriusXM launched TikTok Radio, which program director Marie Steinbock envisions as “completely reflective of exactly what is trending on TikTok.”
But much remains the same: Even if a sped-up remix is ubiquitous on TikTok, the original version of the track tends to get most of the exposure. There are no sped-up remixes in Today’s Top Hits, the most followed playlist on Spotify, for example. And even when labels decide to promote revived songs to radio, they push the original, so that’s usually what saturates the airwaves. The Weeknd’s “Die For You” topped Billboard’s Radio Songs chart in February, more than six years after its release, with the normal-speed version earned the overwhelming majority of its plays.
Can sped-up renditions thrive in the wild, or do they function primarily within the confines of TikTok? Homemade remixes will only become more prevalent in years to come, thanks to platforms that make it so easy to futz with audio. (Meng Ru Kuok, CEO of music technology company BandLab, is fond of saying that they “think everyone is a creator, including fans.”) In this environment, will the industry continue to prioritize originals?
Right now, the dominant school of thought in the music industry is that the sped-up versions are effective… as a conduit to drive listeners back to the version the artist released. “The sped-up versions are more attached to the medium in which people are consuming them than they are the actual song itself,” one senior label executive says. Listeners “are discovering a song through the sped-up version, but they’re consuming the original.”
And even as more acts put out sped-up and slowed-down reworks, there’s still a sense that the original version remains the truest reflection of artists’ intentions. “That’s their art and their creativity — that’s what they want the world to hear,” says Rich McLaughlin, program director at WFUV and a former executive at Amazon Music. “I’m focused on what the artists want to release to the world. That’s what interests me.”
That said, McLaughlin continues, “From a radio programming perspective, I want to be open to playing songs that our listeners want to hear. If there’s a version of a song that comes out that adds a dimension to the original that’s unique and something that I think our listeners are going to like, of course I would be open to playing that.”
Some radio stations are already experimenting with playing alternate versions. Josh “Bru” Brubaker, a TikToker (4.5 million followers) and radio personality for Audacy, often plays a mix stitching together songs that are trending on TikTok after his Today’s Top 10 countdown. The in-house DJs adjust the tempos to nod to the version that’s being incorporated into short video clips.
Kelly has been evaluating songs for WVAQ on a case-by-case basis. While he sped up “Bloody Mary,” he prefers to play the original version of Raye’s “Escapism,” not the faster rendition popular on TikTok. “I think that one loses some of what makes it a great song when it’s the sped-up version,” he says.
What about Miguel’s “Sure Thing”? Originally a hit for the R&B singer in 2011, it returned to the Hot 100 earlier this year after a sped-up remix took off on TikTok and has now climbed to a new peak of No. 28. “That’s one where I might gravitate towards the sped-up version if we needed it, because listeners are going to recognize that from TikTok,” Kelly says. “I could see making an edit where we can keep the timbre of his voice, what makes Miguel Miguel, but speed it up.”
It’s likely that no one is playing more sped-up remixes on the air than SiriusXM’s TikTok Radio, which launched in 2021. Steinbock currently has around a dozen uptempo reworks in rotation. “This has been my life lately: A song will trend on TikTok, and it’s sped-up,” she says. “And then I have to wait and see if the label is going to put out an official version or not.”
In some situations — she points to Justine Skye’s “Collide” and SZA’s “Kill Bill” — “people are consuming both [versions] at kind of the same rate,” so she can play the original without fear of alienating listeners. But when it came to The Weeknd’s “Die For You” and Mariah Carey’s “It’s a Wrap,” she waited until the artists released official sped-up remixes. “It’s kind of a dance,” she says. “Is the audience going to recognize it when it’s not that TikTok remix?”
The current iteration of remixes — the sped-up and slowed-down versions that can serve as rocket fuel for TikTok trends — is unlikely to be the last one. Ebonie Smith, in-house engineer at Atlantic Records, thinks fan-made remixing is only going to become more sophisticated and widespread in the years to come. Young listeners are “already changing expectations around what is normal to hear,” she says, pointing to the popularity of sped-up songs. But “once young people are able to parse out each element of a song, and that becomes somewhat gamified, we’re going to see remixing like we’ve never seen before.”
Jessica Powell, CEO and co-founder of AudioShake, an A.I. music software company, expresses a similar sentiment. “We’re going to see the same shifts in audio that have happened in video and image,” she explains. “There will continue to be really professional uses of tools like Photoshop, but you also have the other end of it — me turning myself into a fish on Snapchat. That’s all coming to audio.”
If this proves to be the case, it’s likely that streaming services and radio stations will have to change their relationship with tempo-shifted remixes, or whatever else young listeners decide sounds good a few years from now. Steinbock will be ready. She recently made room in her rotation for McAlpine’s “Ceilings,” a love-drunk acoustic ballad. It came out roughly a year ago but exploded recently on TikTok thanks to a high-speed rework.
“We’re playing the normal one just because it’s so big,” she says. But “I’m just waiting for an official sped-up version.”
Johnny Chiang, Pandora’s senior director of country programming, will expand his role to also oversee country music programming at SiriusXM, the company tells Billboard. Chiang will report to SiriusXM/Pandora’s GM and senior vp of music programming Steve Blatter.
Chiang’s new role fills duties previously held by JR Schumann, who exited SiriusXM in July 2022. Darrin Smith, SiriusXM’s vp of programming, oversaw the satellite broadcaster’s country channels on an interim basis.
Before joining Pandora in July 2022, Chiang served as vp of radio promotions and artist development at Red Street Records following the announcement that the label had launched a country division. Prior to his work with Red Street, Chiang spent 18 years at KKBQ in Houston and was also the Cox country format leader.
During Chiang’s time at KKBQ, the station was named the Country Music Association’s major market station of the year three times (in 2014, 2016 and 2018), as well as the Academy of Country Music’s major market station of the year in 2017. It also won the Marconi four times (in 2013, 2014, 2016 and 2018). In 2016, Billboard named him the most influential country program director in the United States.
During Nashville’s Country Radio Seminar earlier this week, Chiang led a panel during CRS’ Digital Music Summit titled “Sweet Streams (Are Made of These),” which provided an overview of music streaming services. The panel also included Spotify’s Rachel Whitney and Amazon Music’s Michelle Tigard Kammerer, as each music service detailed their respective platforms’ tools for independent artists and discussed the role of playlisting in music marketing, how DSPs use data to make decisions and more.
Chiang’s role expansion comes on the heels of SiriusXM’s announcement earlier this month that it would be laying off 475 employees, or 8% of its workforce. In a statement that followed, CEO Jennifer Witz called the job cuts difficult but “the right thing to do” as the business grapples with lower ad sales, a still-delayed recovery in the automotive subscription business and major investments in its technology.
The U.S. recorded music business posted its seventh consecutive year of growth in 2022 as the industry continues to benefit from streaming services such as Spotify, Apple Music and YouTube. After spending most of the last two decades in a painful freefall — piracy devastated CD sales and the download-driven unbundling of the album didn’t make up for it — the recorded music business has enjoyed a great run. Last year, paid subscription revenues surpassed $10 billion for the first time, according to the RIAA, and overall revenues reached $15.9 billion.
Here’s the bad news: Last year’s growth, in terms of both dollar and percentage increases, was the lowest since 2016, when the recorded music business started to recover from a 15-year downturn. Happy days may be here again, but they’re not getting happier like they were.
Total recorded music revenues grew 6.1%, but that’s about a quarter of 2021’s 23.2% gain. Paid streaming revenues improved 7.2% in 2022, a third of the 22.2% growth in 2021. It was the first time that this segment’s growth rate fell into the single digits since 2010. That year paid streaming revenues rose just 2.9% to $212 million. Over the next decade, as annual paid streaming grew to 57.8% of total recorded music revenue in 2022, the segment’s annual growth often exceeded 50% and fell below 20% only twice.
Ad-supported streaming’s revenue growth rate also fell into the single digits, also for the first time in more than a decade. Slowed by an advertising malaise that has also affected companies ranging from Alphabet to iHeartMedia, streaming services’ advertising royalties to record labels grew 5.6% compared to 44.4% in 2021 and 16.8% in 2020. In dollar terms, last year’s revenue growth was the lowest since 2015.
The slowdown shouldn’t catch anybody by surprise given the industry’s reliance on streaming, subscription services’ unwillingness — until recently — to raise prices and a finite number of potential customers. The problem comes down to basic math: Fees from subscription services accounted for 57.9% of recorded music revenues in 2022. At just 2.4% of total revenues, a high-growth segment like synchronization barely moves the needle despite rising 24.8% in 2022. Vinyl sales were strong once again — up 17.2% — but accounted for just 7.7% of total recorded music revenues.
Up-and-coming revenue streams such as TikTok, Facebook and Instagram are just that — not yet ready to deliver meaningful royalties despite their popularity. Their revenues are included in the ad-supported streaming bucket that increased just 5.5% in 2022. TikTok faces high expectations but large uncertainty, too, as it faces pressure from politicians at the state and federal level that could reduce its importance. In addition, the company has installed parental controls that are likely to reduce engagement and further reduce its potential value to artists and labels.
A positive trend is subscription services’ decisions to raise prices on individual and family plan tiers. In 2022, Apple Music, Amazon Music and Deezer raised prices in the U.S. Spotify has not yet announced a price hike for standard subscription plans but has hinted it will follow suit in 2023. Labels are eagerly awaiting Spotify’s move. “We are the lowest (cost) form of entertainment,” Warner Music Group CEO Robert Kyncl said Thursday. “We have the highest …engagement, highest form of affinity and lowest per-hour price. That doesn’t seem right.”
Globally, the situation looks better. The industry in China, the world’s most populous country, is flourishing thanks to streaming companies such as Tencent Music Entertainment and Cloud Music. In Japan, the world’s second-largest recorded music market, streaming revenues increased 125% in 2022, according to the RIAJ. At Spotify, which operates in 184 markets, revenue increased 21.3% in 2022 to 11.7 billion euros ($12.4 billion), with about equal growth rates from paid and ad-supported streaming. Annual revenues of two smaller streaming companies, Europe-focused Deezer and MENA-focused Anghami, grew 13% and 36%, respectively.
In the U.S., a maturing streaming business alone cannot maintain the breakneck pace of the last seven years. Labels will need more than the status quo to return to double-digit growth.
In the first trailer for the upcoming Apple TV+ series My Kind of Country, executive producers Kacey Musgraves and Reese Witherspoon break down the reason they decided to hop into the reality singing competition lane.
“When we got together a long time ago we were talking about how country music should stop limiting people and start opening doors… it’s music brought over from all over the world,” Witherspoon says in the two-minute sneak peek that dropped on Friday morning (March 10). “The bluegrass, the folk, the gospel. There’s so many threads woven through country music,” Musgaves adds.
The series that will pit 12 contestants against each other in a bid to become the next country star will feature a diverse group of singers from around the world trying to impress ground-breaking country stars Jimmie Allen, Mickey Guyton and Orville Peck. Each scout has picked a diverse roster of up-and-coming acts who they think have that special something and invited them to Nashville to showcase their unique sound.
In keeping with that theme, each artist’s team is packed with acts that span the globe, with Allen’s featuring singers from Mexico, India, North Carolina and South Africa, while Guyton’s squad has two Nashville and South African performers and Peck’s players from India, South Africa and California.
The winner of the competition will receive what is described as a “life-changing” experience from Apple, which will include global exposure across the Apple TV+ and Apple Music platforms.
My Kind of Country will debut on March 24.
Check out the trailer below.
Snoop Dogg kept his word. Less than a month after pledging to bring the Death Row Records catalog back to traditional streaming services “real soon,” the rapper-entrepreneur did just that on Thursday night (March 9). “Yessir. Heard you,” he tweeted along with a six-second hype clip. “Death Row Records catalog is back streaming everywhere tonight.”
Death Row released Snoop Dogg’s first two albums: the seven-times platinum Doggystyle in 1993 and the two-times platinum Tha Doggfather in 1996. Other album releases now back on Spotify, Apple Music and other services include 2Pac’s All Eyez on Me and The Don Killuminati: The 7 Day Theory, as well as the label’s comprehensive Greatest Hits album, Lady of Rage’s Necessary Roughness and Kurupt’s Against the Grain, among many others.
The label’s other stone-cold classic, Dr. Dre’s The Chronic, returned to DSPs in early February after it was reunited with Interscope Records after Dre sold his music assets to UMG and Shamrock Holdings for an estimated $200 million.
Snoop (real name Calvin Broadus) acquired the Death Row catalog and brand, along with its trademark, name and logo, from MNRK Music Group in February 2022, and almost immediately pulled the legendary catalog off streaming services, telling REVOLT it was because “those platforms don’t pay.” In December, Snoop quietly sold a stake in the label’s catalog to gamma, a new full-service music company led by former Apple Music executive Larry Jackson. Their first course of action was to release the catalog — without mentioning their partnership — exclusively on TikTok to give fans the ability to create their own videos using clips from classic albums like Doggystyle. The deal was touted as the “first-ever catalog reissue to release exclusively through SoundOn,” the distribution and marketing service that TikTok launched in 2022.
“Since I took Death Row off streaming almost a year ago, not a day goes by without people asking me to put it back up,” Snoop said at the time of the TikTok announcement.
Founded in 1992 by Dr. Dre, Suge Knight, The D.O.C. and Dick Griffey, Death Row’s fortunes began to falter late in that decade following the murder of 2Pac, the departures of Dre and Snoop and the imprisonment of Knight. In 2006, the label declared bankruptcy following a slew of legal troubles, including a lawsuit brought by “silent” Death Row co-founder Lydia Harris that resulted in a $107 million judgment being awarded in Harris’ favor.
Death Row was eventually sold to Toronto-based development company WIDEawake Entertainment Group at auction for $18 million in 2009. When WIDEawake declared bankruptcy in 2012, Death Row was acquired by eOne (then known as Entertainment One). In 2019, eOne was acquired by Hasbro. Last April, Blackstone purchased eOne Music (which was rebranded as MNRK Music Group in September) for $385 million. The acquisition included Death Row, which was then sold to Snoop.
LONDON – Vinyl sales generated more money for record labels and artists than CDs for the first time in more than three decades in the United Kingdom last year, helping drive a 4.7% rise in overall music revenue, according to annual figures from labels trade body BPI published Thursday (March 9).
In 2022, sales of vinyl LPs climbed 3.1% year-on-year in the U.K. to £119.5 million ($142.4 million) and now account for over half (55%) of all trade revenues from physical sales. The last time vinyl revenues eclipsed CD sales in the United Kingdom, BPI says, was in 1987 when Michael Jackson’s Bad was the year’s best-selling album and Rick Astley had the best-selling single of the year with “Never Gonna Give You Up.”
In total, 5.5 million vinyl LPs were sold in the United Kingdom last year. That marks the highest level of vinyl purchases in the country since 1990, according to BPI figures released in January measuring music consumption. The best-selling vinyl titles in the U.K. in 2022 were Taylor Swift’s Midnights, Harry Styles’ Harry’s House and Arctic Monkeys’ The Car.
Despite the ongoing vinyl revival, overall revenue from physical formats was down 10.5% to £216 million ($258 million), with CD sales slipping 24% to £89 million ($107 million).
Offsetting that decline was 6.3% year-on-year growth in streaming revenues, which climbed to £885 million ($1 billion) and accounted for 67% of U.K. recorded music revenues in 2022 — up from 66.2% the 12 months prior. Vinyl sales made up 9% of the market in terms of annual trade revenues, while CDs accounted for 7%.
Breaking down streaming revenue, paid subscriptions generated £763 million ($910 million), up 4.8% on 2021, while ad-funded revenue grew by more than a fifth (22%) to £63 million ($75 million). Digital download sales fell 17.5% to £28 million ($33 million).
Synch revenues were up even more sharply, rising 39% year-on-year to £43 million ($51 million), while public performance income spiked 23% to £143 million ($170 million).
Total U.K. recorded music sales — comprising digital and physical revenues, public performance rights and synch — climbed 4.7% to £1.32 billion ($1.57 billion) in 2022. That marks a rise of 36% over the past five years, according to BPI, as well as the eighth-consecutive year of growth.
The United Kingdom is the world’s third biggest recorded music market behind the United States and Japan with sales of just over $1.8 billion in trade value, according to IFPI’s 2022 Global Music Report. (BPI’s year-end sales figures are based on pound sterling, rather than the far stronger U.S. dollar, hence the perceived decline in overall revenues when BPI’s figures are converted into dollars at a constant currency basis).
“2022 was another great year for British music, but we must guard against any complacency in the face of growing challenges and keep promoting and protecting the value of music,” BPI chief strategy officer and interim CEO Sophie Jones said in a statement. She also called upon the U.K. music community to work together to “create the impetus” for further growth and “futureproof the success of British music in an increasingly competitive global music market.”
As previously reported, British artists accounted for the top 10 biggest-selling singles in the U.K. last year (either as the lead or as a featured artist) for the first time since year-end charts were introduced more than 50 years ago. Leading the pack was Harry Styles’ “As It Was,” which topped the U.K. singles chart for 10 consecutive weeks (it also spent 15 weeks atop the Billboard Hot 100) and was streamed more than 180 million times in the country.
Joining Styles in the U.K. top 10 was Ed Sheeran, Cat Burns, Glass Animals, Lost Frequencies & Calum Scott, LF System, Sam Fender and Kate Bush, whose 1985 track “Running Up That Hill” spent three weeks at No. 1 following its high-profile Stranger Things synch; it was streamed 124 million times in her home country last year.
Styles also landed the year’s best-selling album with his third studio set, Harry’s House, making him the first artist to have both the United Kingdom’s top single and top album since Lewis Capaldi in 2019. Sheeran’s = (Equals) and Swift’s Midnights were the year’s second and third-best-selling albums.